Supernova Advisor Teams

CHAPTER 9Team Contract and Agreement

“Unless both sides win, no agreement can be permanent.”

—Jimmy Carter

There are “gives and gets” in every contractual relationship, and they need to be articulated and memorialized in writing. We have witnessed many teams struggle and spend lots of time deciding on compensation splits and who gets what in the team relationship. They lose sight of the big picture and potential growth opportunities. We're not saying that compensation isn't important as one component to overall team dynamics. You probably understand by now that most of the team challenge assignments are designed to get team members communicating prior to deciding on how the production credits are split and bonuses to members are paid. In any compensation structure or split, it's important that team members not be demotivated by compensation. Everyone should be compensated fairly for results.

Team members should come together over several sessions to discuss the wants, needs, and desires of each team member. Put everything on the table first before deciding on the final arrangements. The first meeting is a brainstorming session, and at the end of the session a summary of what was discussed should be distributed to each team member. Perhaps each of the team members have had a long‐standing relationship and have a mutual trust for one another. This trust should be maintained well into the future of the team's existence. Defining the parameters of the working relationship is ...